Nasscom urges govt. to provide loans for s/w start-ups

BANGALORE: Nasscom has urged the government to financially assist

software product start-ups to cover the high cost of patenting, and fiscal

incentives for angel investors to push this space to the next level.

Nasscom president Kiran Karnik said the industry body has suggested the government to provide loans to product companies who have filed for patents.

According to Nasscom, this loan can be converted as grant if the companies succeed in getting patents. Otherwise, the amount has to be considered as loan and should be repaid.

Karnik told reporters here that the government has responded positively and hoped that they would make announcements in the coming Union budget.